USD/JPY – 1H – SELLThe combination US Dollar/Japanese Yen (USD/JPY) jumps from the bearish trendline down.
A continuation of the downtrend downwards to the next support line at 149.07700 is expected.
Caution: A possible change in the direction of the resistance zone at 150.74700 should always be considered.
Consider stop-loss settings accordingly.
Next a ‘Three Black Crows’ candlestick pattern is existing. The chart forms ‘Three Black Crows’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.72000 |
| 2nd High | 151.94800 |
| Next High | 150.74700 |
| Current Price | 149.79500 |
| Next Low | 149.07700 |
| 2nd Low | 148.86600 |
| 3rd Low | 148.84600 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Black Crows